This week: Omega— one to watch, New recent highs for Summit, Reach into Trap

A 5% increase in the FTSE 100 together with a 3% improvement in the AIM All Share was welcome news, perhaps in part helped by news last week that European banks were planning to club together in helping Greece by potentially allowing it more time to repay its debts. UK manufacturing data released last week did little to stop the progress of the markets with growth having slowed in June to its lowest rate for more than 18 months, though the previously announced 0.5% expansion of the UK Economy is likely to have helped this as has UK service sector growth. The week ahead will see the BoE announce their interest rate decision which is widely predicted to remain at 0.5%, despite inflation at 4.5%, together with UK producer price data and UK industrial production figures.

Access Intelligence (LON:ACC) (ACC 3.5p / £9.00m)              

Access Intelligence, a leading supplier of compliance Software-as-a-Service solutions for the financial services, procurement and media sectors, this week announced the sale of its subsidiary, Solcara, to Thomson Reuters for £2.5m. Solcara sells search technology to the legal profession and in-house legal teams and in the year to 30 November 2010 had sales of approximately £750,000 on which it generated a small profit. The Company also updated the market on trading for the six months 30 May 2011. Most of the group has been trading in line with expectations with Due North Ltd and AIMedia Communications Ltd in particular having had a successful first six months. During the first six months the company has completed the restructuring of its capital base creating positive revenue reserves in the parent company allowing it to pay dividends in the future. The group cash balance at 30 May 2011 was approximately £2.7m which will, following completion of the disposal of Solcara, increase to approximately £5m. 

AFC Energy (LON:AFC) (AFC 44.5p / £77.14m)

AFC Energy, a developer of low cost alkaline fuel cells announced that it continues to make good progress. It has completed the first stage of its Beta alkaline fuel cell system where it has made significant progress on completing the hazard and operability study (HAZOP) and has incorporated the emerging improvements from that study into its first system. Once…

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